16 Amendments of Marco ZANNI related to 2017/2071(INI)
Amendment 6 #
Motion for a resolution
Recital A
Recital A
A. whereas the EIB is considered to be the ‘financial arm of the EU’ and the key institution inwhich sustainings public and private investments within the EU, while also playing an important role outside the EU through its external lending activities;
Amendment 18 #
Motion for a resolution
Recital F
Recital F
F. whereas the EIB, as the institution responsible for the management of the European Fund for Strategic Investments (EFSI), should maintain the pursuit of a high-quality, geographically balanced asset portfolio, with long-term economic benefits that generate quality jobs, and should make this its main priority across the whole EU territory;
Amendment 21 #
Motion for a resolution
Recital I
Recital I
I. whereas the EIB Group should maintain a high credit standing as a fundamental asset of its business model and a high-quality, solid asset portfolio with sound investment projects under the EFSI, by selecting projects of proven financial viability and economic and social utility, on the basis of an appropriate independent ex-ante assessment, and all financial instruments in its portfolio;
Amendment 36 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. WelcomNotes the fact that the EIB has responded to the crisis by expanding its activities significantly, including in the countries worst affected; calls on the EIB to further support EU countries in order to contribute to their economic recovery;
Amendment 48 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. WelcomesTakes note of the EIB’s commitment to tackling the phenomenon of forced displacement and migration and taking action in countries particularly affected by the migration crisis, including by strengthening humanitarian action and providing support for economic growth, the construction of infrastructure and job creation; expects the EIB Group, to this end, to step up its efforts in coordinating its Economic Resilience Initiative and the External Lending Mandate currently under revision with the establishment of the EFSD mid-2017;
Amendment 50 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Points out with concern that Turkey is the primary beneficiary of non- EU EIB funding, and that the EIB itself is the primary external funding institution in Turkey; stresses the need to make EIB funding conditional on the upholding of human rights and fundamental freedoms, democracy and the rule of law by beneficiary countries;
Amendment 54 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Expects a rapid agreement to be reached on the prolongation of EFSI action, and that the revised fund will enableRegrets the prolongation of EFSI action, also in the light of the problems identified in the previous version, namely in relation to additionality, geographic balance and advisory hub activities, to be overcome;
Amendment 58 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Deplores the involvement of the EIB in large-scale infrastructure projects lacking in real added economic and social value for the local population; calls on the EIB to finance only those projects whose implementation is not financially or socially controversial, as demonstrated by a thorough ex-ante assessment and an adequate cost-benefit analysis;
Amendment 60 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Points out the importance of ensuring the efficient and responsible management of resources, with the objective of safeguarding the bank’s financing capacity for the coming years;
Amendment 74 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. WelcomNotes the EIB's efforts to carry out due diligence on EIB Group counterparties and operations, including on-going monitoring activities and controls, so as to ensure that the EIB does not unwittingly facilitate corruption, fraud, collusion, coercion, money laundering, tax fraud, harmful tax practices, or the financing of terrorism, notably through the publication of regular activity reports by the Office of the Chief Compliance Officer (OCCO) and its close cooperation with the EIB Inspectorate General; calls on the EIB once again to improve significantly its policies on non-cooperative jurisdictions, in line with Parliament’s earlier recommendations; stresses in particular the need to make the allocation of direct and indirect loans conditional on the publication of tax and financial data on a country-by-country basis, and on the sharing of beneficial ownership data for the beneficiaries and financial intermediaries involved in the financing operations; insists on the need for the EIB to establish a thorough public list of selection criteria for financial intermediaries, so as to step up the EU’s commitment to combating tax abuse and to prevent more effectively the risks of corruption and infiltration by criminal groups to which many EIB projects have been exposed;
Amendment 79 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the factRegrets that the EIB Group’s transparency policy is based on a presumption of disclosure and that everyone can access EIB Group documents and information; recalls its recommendation for the publication on the EIB Group website of non- confidential documents, such as Corporate Operational Plans for previous years, interinstitutional agreements and memorandums, and urges the EIB Group not to stop there, but to continue raising the bar and constantly looking for ways to improvestill has some serious shortcomings compared to other international institutions; calls on the EIB to publish a breakdown of statistical data on its website for each project financed within and outside the EU, including, in particular, lending operations carried out through financial intermediaries, and to make the results of ex-post and ex-ante impact assessments of each project fully accessible, including a detailed explanation of the indicators and selection and assessment criteria used; calls on the EIB once again to ensure regular publication of the minutes of the meetings of its management and governing bodies;
Amendment 85 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Calls on the EIB to ensure public access to documents concerning the results of internal inquests, reports and audits, particularly when they relate to issues of public interest or projects in which tax abuse or fraud and corruption have been identified, and to make all information fully accessible to Parliament;
Amendment 92 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Reiterates its request for information on the contracting and subcontracting system to be made public and easily accessible, and for Parliament to be guaranteed access to the associated financial information and documentation in all cases;
Amendment 94 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Calls on the EIB Group to put a continuous emphasis on performance scrutiny via performance assessments and proven impact; encourages it to continue to refine its monitoring indicators, more specifically its indicators of additionality, with a view to assessing impact as early as possible in the project generation phase and providing the Board with sufficient information on the impact envisaged, in particular with regard to the contribution of projects to EU policies, for example their effect on employment (during both implementation and operation); urges the EIB to reinforce the ex-ante and ex-post assessment of the impact of its projects outside the EU, including by developing indicators to measure the social, economic and environmental effects of its own financing operations, in order to ensure that projects generate real added value for sustainable economic, social and environmental development inclusive for local communities; points out, furthermore, that the performance of EIB Group financing cannot be assessed on the basis of an appraisal of its financial impact alone, and calls, therefore, for the right balance to be maintained between the operational targets defined in terms of business volume and the non-financial EIB Group staff objectives; urges, for instance, that the performance assessments indicate what specific objectives within the framework of the sustainable development goals (SDGs) are targeted by the project and to what extent it has contributed to fulfilling them;
Amendment 108 #
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30a. Notes with concern the highly opaque character of the indirect financing operations for small and medium-sized enterprises (SMEs) and the fact that they are carried out through speculative investment funds geared towards maximum short-term profit, which is entirely at odds with the objective of supporting the real economy and SMEs; recalls that SMEs are the backbone of Europe’s economy, that they provide 85 % of all new jobs, and that more effective, direct, and transparent funding mechanisms should therefore be identified;
Amendment 120 #
Motion for a resolution
Paragraph 34 a (new)
Paragraph 34 a (new)
34a. Underlines that the EFSI is failing to ensure the quality, additionality, economic and social benefits and sustainability of the projects financed; deplores the fact that the list of projects chosen to receive funding under the EFSI includes infrastructure installations with dubious additionality, regrets that in many cases the EIB has failed to take action on reports from local authorities, stakeholder communities and civil society groups; calls on the EIB to withdraw funding wherever there is any suspicion of infringements; takes the view that EFSI-funded loans should be additional to ordinary EIB investment;